Ride-hailing major Uber has announced its financial results for the quarter ended March 31 and it shows a pre-tax gain of $154 million posts the sale of Uber Eats’ India business to online food delivery major Zomato.
To recall, Zomato acquired Uber Eats India in an all-stock transaction for $206 million in January this year. The deal also gave Uber 9.99% ownership in Zomato. While the investment was valued at $171 million, the remaining $35 million was received as a reimbursement of goods and services tax receivable from Zomato.
Continue reading Selling food biz in India to Zomato delivers $154 Mn pre-tax gains for Uber at Entrackr.